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1 George Avenue Peabody — Photo 1 of 40

1 George Avenue Peabody — Photo 1 of 40

$624,900

Investment Analysis — 1 George Avenue

Peabody, MA 01960 — Rolling Hills

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01960 carries an estimated $3,080/mo in gross rent — about a 3.58% cap rate and $22,365/yr in estimated NOI at the $624,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

1.5

SqFt

1,578

Style

Single Family

Built

1960

Nestled in the established and desirable Rolling Hills neighborhood in West Peabody this home is being offered for the first time in over 45 years. Beautifully situated on a large lot on a tree-lined street, this split-entry home has been lovingly maintained. This great home offers 8 rooms, 3 bedrooms and 1.5 bathrooms. The main living level has 3 generous size bedrooms, an eat-in kitchen with access to the large deck, spacious living room with a gas fireplace, a dining room and one and a half bathrooms. The lower level offers additional living space, a finished family room with wood-burning fireplace and a bonus room. There is additional unfinished space on the lower level with the possibility for expansion. The many great outdoor amenities nearby include Brooksby Farm, Salem Country Club, several parks, the Peabody Rail Trail, PVMHS, skating rink, and much more. Owners say they can watch fireworks from their living room!! The sun-drenched 300 square foot deck overlooks the lovely fenced-in backyard, in addition to a 120 square foot screened-in cabana. There is a surprisingly spacious 1 car garage with parking for 3 more cars in the driveway. Very convenient access to shopping and major highways. With a LOW TAX RATE & voted the HOTTEST ZIP CODE IN THE U.S. BY a RECENT REALTOR POLL, you won't want to miss this wonderful opportunity to make this house your own!

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 789 sq ft (the lesser of 900 sq ft or half the 1,578 sq ft principal dwelling). Lot size: 11,600 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Open Houses

Property Details

Financials

Original Price$624,900
Annual Taxes$5,725

Parking

Garage1
Off-Street4

Interior Specifications

Total Rooms8
Fireplaces2
FlooringTile, Carpet, Concrete, Laminate, Hardwood, Flooring - Wall to Wall Carpet
BasementFull, Partially Finished, Interior Entry, Concrete

Climate & Utilities

HeatingCentral, Baseboard, Natural Gas
CoolingNone
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningR1B

Property & Lot

Acres0.27
SqFt Lot11,600
Lot FeaturesSloped

Amenities & Appliances

Gas Water Heater • Water Heater • Oven • Dishwasher • Disposal • Range

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Golf • Bike Path

Geography

Floorplan Breakdown

Structural Layout

First
Living RoomDining RoomKitchenPrimary BedroomBedroom 2Bedroom 3Bathroom 1Bathroom 2
Basement
Family Room
Living Room
Lvl First

20 x 13

Ceiling Fan(s), Closet, Flooring - Hardwood, Window(s) - Bay/Bow/Box

Dining Room
Lvl First

11 x 9

Flooring - Hardwood, Lighting - Overhead

Kitchen
Lvl First

11 x 11

Flooring - Laminate, Dining Area, Deck - Exterior, Exterior Access

Family Room
Lvl Basement

19 x 12

Closet, Flooring - Wall to Wall Carpet

Primary Bedroom
Lvl First

14 x 11

Closet, Flooring - Wall to Wall Carpet

Bedroom 2
Lvl First

13 x 10

Bedroom 3
Lvl First

10 x 10

Closet, Flooring - Wall to Wall Carpet

Bathroom 1
Lvl First

Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl First

Bathroom - Half, Flooring - Stone/Ceramic Tile

Listing Provided By

Listing Agent: Mary Ann Quinn Group

Listing Office: Wilson Wolfe Real Estate

MLS® Number: 73580735